Triad Investment Management Sells 1,025 Shares of CDW Co. (NASDAQ:CDW)

Triad Investment Management lowered its position in CDW Co. (NASDAQ:CDW) by 7.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,894 shares of the information technology services provider’s stock after selling 1,025 shares during the period. CDW accounts for about 3.7% of Triad Investment Management’s investment portfolio, making the stock its 14th largest holding. Triad Investment Management’s holdings in CDW were worth $3,042,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of CDW by 29.1% in the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after buying an additional 781,421 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of CDW by 4.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider’s stock worth $299,901,000 after buying an additional 64,140 shares during the last quarter. Northern Trust Corp grew its stake in shares of CDW by 1.6% in the 3rd quarter. Northern Trust Corp now owns 1,331,127 shares of the information technology services provider’s stock worth $268,568,000 after buying an additional 20,345 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CDW by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock worth $258,196,000 after buying an additional 33,235 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of CDW by 2.5% in the 3rd quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock worth $167,975,000 after buying an additional 20,152 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CDW shares. Stifel Nicolaus cut their target price on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI increased their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Barclays cut their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Citigroup cut their target price on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Friday, June 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $250.00.

CDW Stock Performance

CDW stock traded down $6.18 during trading on Tuesday, reaching $225.43. The company had a trading volume of 469,312 shares, compared to its average volume of 759,300. CDW Co. has a 52 week low of $170.96 and a 52 week high of $263.37. The firm’s 50-day simple moving average is $228.42 and its 200 day simple moving average is $233.65. The firm has a market capitalization of $30.30 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.94 billion. Sell-side analysts forecast that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.10%. CDW’s dividend payout ratio is currently 30.96%.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.